Growth Stocks – One-Year Correlation: 10-Year US Treasury Yield/MSCI Value Index vs. 10-Year US Treasury Yield/MSCI Growth Index U.S growth stocks are currently highly correlated with U.S. bond yields, as they were during the dotcom bubble. Image: Morgan Stanley Wealth Management
90-Day Moving Correlation Between U.S. 10-Year Treasury Bond and FAANGM Stocks Rising bond prices tend to be bullish for FAANGM stocks. Image: Alpine Macro
1-Month Correlation with the S&P 500 The equity/bond correlation has risen back above zero, driven by real rates. Image: Goldman Sachs Global Investment Research
Stock Correlations with Treasury Yields and HY Spreads The correlation between stocks and Treasury yields has broken down since the Pfizer/BioNTech vaccine announcement, while the relationship with HY spreads has remained stable. Image: Credit Suisse
Tech Stocks – S&P 500 Information Technology Index and 10-Year U.S. Treasury Yield – 200-Day Correlation How much should tech stocks trade like bond proxies? Can high concentration in tech stocks increase market fragility? Image: Morgan Stanley Wealth Management
Correlation – CCC vs. BBB-rated U.S. Corporate Bonds Investors rush into junk bonds. Is it time to worry? Image: Arbor Research & Trading LLC
Small Cap vs. Large Cap Correlation with US 10-Year Breakeven When inflation expectations rise, small-caps tend to outperform large caps. Image: BofA Global Investment Strategy
Inflation and Equity/Bond Correlation Investors are watching inflation very closely. When inflation is high, the equity/bond correlation tends to turn positive. Image: Goldman Sachs Global Investment Research
Correlation Between U.S. 10-Year Treasury Note Yields and the S&P 500 Will the negative correlation between U.S. 10-year Treasury note yields and the S&P 500 persist this time? Image: Arbor Research & Trading LLC
U.S. Stocks – Average Stock Correlation in the S&P 500 It is a market of stocks rather than a stock market, as the average stock correlation in the S&P 500 has fallen significantly. Image: Gavekal, Macrobond